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Oct 31, 2012
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remember when president obama was elected, he said he'd put a lot of people to work in shovel-ready job. turned out there weren't that many jobs that were ready in. the wake of sandy, i don't think there are enough shovels ready for up and down the jersey and new york coast. these jobs will be created. this destruction, estimated between $30 billion and $50 billion. i think it's going to exceed that. maybe at least get to the high end. will finally move the employment need until this country. now, when we look at industries that have been hardest hit since the great recession, the one that stands out the most is the construction business. construction business is about half of what it was six years ago. the culprit, banks that are afraid to lend, excess of homes, no need for new buildings and roads. the federal government doesn't need loans from banks. the federal government can cut immediate checks to get work done. the federal government is the only entity big enough for this job. i think it will keep the situation for dissolving into partisan policies, as usual. some are too big for
remember when president obama was elected, he said he'd put a lot of people to work in shovel-ready job. turned out there weren't that many jobs that were ready in. the wake of sandy, i don't think there are enough shovels ready for up and down the jersey and new york coast. these jobs will be created. this destruction, estimated between $30 billion and $50 billion. i think it's going to exceed that. maybe at least get to the high end. will finally move the employment need until this country....
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Oct 31, 2012
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en certain election next week where mr. bernanke is very much a part of the play and now you have hurricane sandy ate my homework as a possible excuse for weaker fourth quarter earnings. >>> thank you very much, bob pisani. how is the first day of trading since hurricane sandy? let's ask managing director at lessard national markets. >> it is good to be back. two days seems like an etesht when you're trying to place a bet and express an opinion in this marketplace so it is very difficult to wait this out. obviously a terrible tragedy, this national disaster. but we have to balance out the fact that we are back in business with the fact that, as bob just pointed out, it is very difficult to get to new york right now. i would tell you that the volumes aren't three days worth of volumes all wrapped up in one. we'll see that normalize over the course of the week. >> indeed. it is horrible to talk about these things in light of the tragedy that's ensued. but nonetheless, what are you doing in terms of making a buck? for example,
en certain election next week where mr. bernanke is very much a part of the play and now you have hurricane sandy ate my homework as a possible excuse for weaker fourth quarter earnings. >>> thank you very much, bob pisani. how is the first day of trading since hurricane sandy? let's ask managing director at lessard national markets. >> it is good to be back. two days seems like an etesht when you're trying to place a bet and express an opinion in this marketplace so it is very...
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Oct 31, 2012
10/12
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. >>> tuesday, of course, election day, but how in the world are some people in new jersey and elsewhere in the storm's path ever going to get to the polls? a look at the options today. meantime back to scott and fast half. >>> let's get back to michelle caruso-cabrera. she's looking at how the airline stocks are moving after the storm. they're slowly getting new york's airports back up to speed. >> but still tens of thousands remain canceled. so this morning, the first time investors could react to all this news, what are the airlines doing? mostly lower, not by much. southwest the only outlier. >> guys a quick comment? not exactly great businesses going into the storm. i guess they'll be questioned even further coming out of the storm. >> the airline space as a whole we like. one of the companies we like is b.e.a. aerospace, that refurnishing these planes, that will benefit regardless ody i want you're talking about a defense-related company. would you put your money today in any of the major airline names? >> i wouldn't be chasing any of these. >> scott, one important point to make on
. >>> tuesday, of course, election day, but how in the world are some people in new jersey and elsewhere in the storm's path ever going to get to the polls? a look at the options today. meantime back to scott and fast half. >>> let's get back to michelle caruso-cabrera. she's looking at how the airline stocks are moving after the storm. they're slowly getting new york's airports back up to speed. >> but still tens of thousands remain canceled. so this morning, the first...
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Oct 31, 2012
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we'll get the last jobs number before the election no matter when the election is will come on friday. we'll see how it comes in. >> in terms of stocks we're watching, apple down by 1.9%. first opportunity for the stock to trade since the massive management shake-up. biggest one since tim cook took over. some say that he's really making his mark as ceo in terms of replacing head of retail and also kicking out scott who was seen as successor to tim cook. stock is down largest since november 2008. it was the leader in terms of downside on the nasdaq which is down 4% month to date. >> we'll give you an update on action on wall street including comments from ceo. that's coming up next. dow up 39. s&p up 2.5. back in a minute. >>> welcome back. earlier we spoke with duncan niederauer. >> they're happy. a nice, quiet boring open. that's what they had. a lot of people running around at the open. it was quiet ultimately. volume, very interesting a bit on the light side. a lot of reasons for that. i have been calling around to talk to people. people are just not in. either the phones are not o
we'll get the last jobs number before the election no matter when the election is will come on friday. we'll see how it comes in. >> in terms of stocks we're watching, apple down by 1.9%. first opportunity for the stock to trade since the massive management shake-up. biggest one since tim cook took over. some say that he's really making his mark as ceo in terms of replacing head of retail and also kicking out scott who was seen as successor to tim cook. stock is down largest since...
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Oct 31, 2012
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we have the elections before us. tax policy, fiscal policy is a big question mark in people's minds. so i think that the biased long-term between the months of november and the end of year, it's probably downward as we adjust to the out of the money risks that we're facing right now. >> because between the fiscal cliff -- how big an issue is the tax policy? meaning do you sell now try to take advantage of where we are? >> our debt to gdp right now is 100%. and we're growing that at about 8% per year. if we don't do something to close the gap between what we make and what we spend, we know that we're on a path of unsustainability. right now the gang of eight and the presidency, everybody that's looking at this problem has to make some pretty dramatic moves pretty quickly to avoid what will otherwise be a hard landing if these bush tax cuts do expire without being addressed. >> i know we're making a lot of the storm because we are in the midst of the storm itself here. are there any investments one way or the other as
we have the elections before us. tax policy, fiscal policy is a big question mark in people's minds. so i think that the biased long-term between the months of november and the end of year, it's probably downward as we adjust to the out of the money risks that we're facing right now. >> because between the fiscal cliff -- how big an issue is the tax policy? meaning do you sell now try to take advantage of where we are? >> our debt to gdp right now is 100%. and we're growing that at...